Seasonal unemployment occurs because of:
a. changes in the business cycle
b. the periodic nature of some jobs.
c. workers moving between jobs.
d. workers not getting jobs according to their educational qualifications.
b
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Land owners with secure and protected property rights are motivated to
(a) use their land productively. (b) maintain their land and its value as long as the land is owned privately and profits are realized by the land owners. (c) not hold their land idle if they face property taxes due to costs imposed by the tax system. (d) link land ownership and personal freedom.
If a firm wishes to engage in price discrimination, which of the following conditions must be met?
a. The demand curve must be horizontal. b. It must be possible to prevent resale of the good from low-paying to high-paying customers. c. The supply curve must be horizontal. d. Many identical firms in the market must each have a small share of total industry output. e. Price must be less than marginal cost.
A perfectly competitive firm is a "price taker" because it cannot sell its product for more than the market price
a. True b. False Indicate whether the statement is true or false
To be a natural monopoly, a firm must
a. control an essential natural resource input. b. be very large. c. have a continuously falling average cost curve as output rises. d. have falling average costs over a substantial range of total market demand.